FraudTalk is a blog focused on the review and discussion of recent significant cases of fraud, corruption and employee misconduct - particularly major embezzlement cases in the US. Fraud Talk is published by Chris Marquet, Chairman & CEO of Marquet International Ltd., an international investigations, litigation support and due diligence firm.

Wednesday, May 8, 2013

Virginia Woman Pleads Guilty To Embezzling $155K From Bank

...Shannon S. Hamilton, 43, of Prince George County, faces up to 30 years in prison and a $1 million fine when sentenced Aug. 1 by U.S. District Judge John A. Gibney Jr., though federal sentencing guidelines will likely call for far less punishment.

Her plea agreement calls for her to pay $155,220 in restitution to SunTrust bank.

In pleading guilty, Hamilton admitted that while she was the manager of the South Park branch of SunTrust bank from February 2008 to November 2011, she raided certificates of deposits belonging to a dozen customers.
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Hamilton admitted that she used her position as branch manager to misappropriate money from clients through unauthorized transactions with customers’ certificates of deposit and checking accounts.
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The scheme included forging customers’ endorsements and changing their account addresses to the bank so the customers would not see unauthorized transactions.

Among other things, she admitted using the money for repayment of her own 401K loan and living expenses and for “robbing Peter to pay Paul” — repaying previous victims by buying new certificates of deposits or depositing money into existing accounts with money stolen from new victims.
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About the Author - Chris Marquet

Chris Marquet is President, Investigative Services with SunBlock Systems, an investigations, litigation support, computer forensics & cyber security firm. Chris has over 34 years of professional experience in industry with Marquet International and prior stints with Kroll Associates, Citigate Global Intelligence and Decision Strategies/Vance International.
Chris is the author of many articles and white papers, including the annual Marquet Report on Embezzlement as well as the Marquet Report on Ponzi Schemes. He has lectured extensively on subjects relating to employee misconduct; due diligence; business intelligence, internal investigations, fraud, employee integrity, workplace violence, kidnapping, terrorism, crisis management and travel security.
Chris is a Certified Board Advisor and Board Member for the Center for Strategic Business Integrity. He received an A.B. degree from Dartmouth College in 1983, with a triple major in Physics, Economics, and Philosophy.
He can be reached at cmarquet@sunblocksystems.com